Salad And Go Ground Lease
Salad and Go signed a 20-year absolute net, corporate ground lease for a 2021 redeveloped drive-thru asset with well below market annual ground rent located in the desirable North Dallas submarket of Richardson, Texas. The tenant opened for business on June 28, 2021. Positioned approximately 20 minutes north of Downtown Dallas, the Property is located along Campbell Road just east of US Highway 75 (North Central Expressway) within the Telecom Corridor, one of the densest high-tech business areas in the nation. Salad and Go Ground Lease features zero landlord responsibilities and annual ground rent of $95,000 with 10% rent escalations every five years including each of the three, five-year renewal periods. Salad and Go is a privately held company founded in 2013 that operates approximately 38 locations throughout the state of Arizona with five additional locations currently being developed in the Dallas/Fort Worth Metroplex. Redeveloped in 2021, the Property includes two (2) drive-thru lanes capable of holding up to 25 cars as well as a highly-visible, masonry monument sign fronting Campbell Road.